How to Protect Sensitive Multifamily Data with Outsourced IT Services

In the constantly revolving internet technology world that seemingly is getting faster and smarter, data breaches remain a nagging thorn in the side. Despite new advances in antivirus technology, device protection is more essential than ever. Each year, IBM Security teams with the Ponemon Institute to determine the global cost of data breaches. The  2018 Cost of Data Breach Study: Global Overview– based on interviews with more than 2,200 IT, data protection, and compliance professionals from 477 companies that have experienced an intrusion over the past 12 months – made perfectly clear that the information technology nemesis isn’t letting up. The study found that the average total cost of a data breach, the average cost for each lost or stolen record (per capita cost), and the average size of breaches have each increased beyond that reported in 2017. Specifically: The average total cost rose from $3.62 to $3.86 million, an increase of 6.4 percent The average cost for each lost record rose from $141 to $148, an increase of 4.8 percent The average size of the data breaches in this research increased by 2.2 percent The cost of data breaches is down from $4 million reported in 2013 but the increase over 2017 is reason for concern. Data breaches are the most costly in the United States and the Middle East and least costly in Brazil and India, according to the study released in July 2018. The average total cost in the United States was $7.91 million and $5.31 million in the Middle East. The highest average per capita costs were $233 in the United States and $202 in Canada. Forty-eight percent of all breaches identified in the study were caused by malicious or criminal attacks. Such attacks were more difficult to identify and contain compared to breaches caused by human error. The study showed also that the faster a breach is identified the lower the average cost per record. Companies that identified a breach in less than 100 days saved...